Thursday, June 05, 2008

A New Cell Phone Monopoly?

Verizon Is Talking About Acquiring Alltell
$27.5 Billion Could Make Verizon No. 1

Verizon's customer base could top 80 million

Vodafone Group PLC (VOD) confirmed Thursday that Verizon Wireless, its joint venture with Verizon Communications Inc. (VZ), is in " advanced discussions" regarding the potential acquisition of Alltel Corp. (AT).

The deal, if completed, would elevate Verizon Wireless to the largest mobile operator in the U.S.

A Vodafone statement added: "There is no assurance that a transaction will be forthcoming."

The talks come just seven months after Alltel, the U.S.' fifth largest cell phone operator, was sold to TPG Capital and a unit of Goldman Sachs Group in a $ 27.5 billion leveraged buyout.
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